http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3715691Yeah, right.
Joanne98 Donating Member (1000+ posts) Fri Aug-01-08 02:14 PM
Original message
Hugo Chavez wanted to sign a ten year contract to sell us oil for 50$ a barrel
But Bush and the thugs said NO!
You'd think George Bush would get down on his knees and kiss Hugo Chavez's behind. Not only has Chavez delivered cheap oil to the Bronx and other poor communities in the United States. And not only did he offer to bring aid to the victims of Katrina. In my interview with the president of Venezuela on March 28, he made Bush the following astonishing offer: Chavez would drop the price of oil to $50 a barrel, "not too high, a fair price," he said--a third less than the $75 a barrel for oil recently posted on the spot market. That would bring down the price at the pump by about a buck, from $3 to $2 a gallon.
But our President has basically told Chavez to take his cheaper oil and stick it up his pipeline. Before I explain why Bush has done so, let me explain why Chavez has the power to pull it off and the method in the seeming madness of his "take-my-oil-please!" deal.
Venezuela, Chavez told me, has more oil than Saudi Arabia. A nutty boast? Not by a long shot. In fact, his surprising claim comes from a most surprising source: the U.S. Department of Energy. In an internal report, the DOE estimates that Venezuela has five times the Saudis' reserves.
However, most of Venezuela's mega-horde of crude is in the form of "extra-heavy" oil--liquid asphalt--which is ghastly expensive to pull up and refine, Oil has to sell above $30 a barrel to make the investment in extra-heavy oil worthwhile. A big dip in oil's price--and, after all, oil cost only $18 a barrel six years ago--would bankrupt heavy-oil investors. Hence Chavez's offer: Drop the price to $50--and keep it there. That would guarantee Venezuela's investment in heavy oil.
But the ascendance of Venezuela within OPEC necessarily means the decline of the power of the House of Saud. And the Bush family wouldn't like that one bit. It comes down to "petro-dollars." When George W. ferried then-Crown Prince (now King) Abdullah of Saudi Arabia around the Crawford ranch in a golf cart it wasn't because America needs Arabian oil. The Saudis will always sell us their petroleum. What Bush needs is Saudi petro-dollars. Saudi Arabia has, over the past three decades, kindly recycled the cash sucked from the wallets of American SUV owners and sent much of the loot right back to New York to buy U.S. Treasury bills and other U.S. assets.
The Gulf potentates understand that in return for lending the U.S. Treasury the cash to fund George Bush's $2 trillion rise in the nation's debt, they receive protection in return. They lend us petro-dollars, we lend them the 82nd Airborne.
Chavez would put an end to all that. He'll sell us oil relatively cheaply--but intends to keep the petrodollars in Latin America. Recently, Chavez withdrew $20 billion from the U.S. Federal Reserve and, at the same time, lent or committed a like sum to Argentina, Ecuador, and other Latin American nations.
http://findarticles.com/p/articles/mi_m1295/is_7_70/ai_...
This is a FAKE energy crisis. Just like the one Bush and Cheney created ON PURPOSE in California in 2001.
I dunno. I know the electrical crisis was going on in California in early 2001, but I suspect that was too early for Bush and Cheney to have had anything to do with it. The Joanne primitive's full of that which makes up the William Rivers Pitt, as usual.
The "news" article, by the way, is from the
Progressive.
Cleita Donating Member (1000+ posts) Fri Aug-01-08 02:19 PM
Response to Original message
1. So is this why there are all the cheap attacks on Chavez?
The ones that even show up on DU? It would make sense that the oil profiteers running our government wouldn't want Chavez in power in Venezuela on top of all that oil that they believe should belong to them. Thanks for the post. btw Arnold hasn't been able to undo that mess, which was blamed on Grey Davis, like he promised. But, of course he's one of those guys and nothing will be done in California until we dump these neo-cons out of power here as well as nationwide.
Joanne98 Donating Member (1000+ posts) Fri Aug-01-08 02:29 PM
Response to Reply #1
2. Partially. There's more than one reason. He's been paying off the debts of the other SA countries. They are no longer under the control of the IMF. He also feeds the poor. That's the most serious act of evil that any leader of a third world country can do. (according to Washington)
Judi Lynn Donating Member (1000+ posts) Fri Aug-01-08 02:35 PM
Response to Original message
3. Thanks for remembering this, and bringing it up, Joanne98. He was very clear in stressing this.
AndyA Donating Member (1000+ posts) Fri Aug-01-08 02:39 PM
Response to Original message
4. George Bush is a traitor to this country.
He is not looking out for our best interests, he's lining the bank accounts of his family and their cronies.
Justice must be served to this man, an American disgrace.
L0oniX Donating Member (1000+ posts) Fri Aug-01-08 02:43 PM
Response to Original message
5. All part of the Bush Cheney energy policy ...****ing asscarrots!
It's highly irregular that the stupidest person on the whole entire internet, Doug's ex-wife, isn't at this bonfire, but for once, one heaves a sigh of relief.
"Stupid" gets really boring if one sees too much of it.
